Indian Railway Finance Corporation IPO Opens Today in Rs 25-26 per Share Price Band


New Delhi: The initial public offering (IPO) of the Indian Railway Finance Corporation (IRFC) will open on January 18 in the price band of Rs 25-26 per share. Also Read – Watch Video: How to Start Investing in Share Market | Basic Tips For Beginners

The IPO worth over Rs 4,600 crore would close on January 20. Also Read – Share Market Holidays in July 2020: Here’s The Complete List of Days Stock Market Will Remain Closed

The IPO of the NBFC comprises up to 178.20 crore equity shares of Rs 10 each, including fresh issue of 118.80 crore shares and offer for sale of 59.4 crore equity shares. Also Read – Share Market Holidays in May 2020: Here’s The Complete List of Days Stock Market Will Remain Closed

This is the first IPO by a railway non-banking financial company (NBFC). This is also be the first IPO of 2021.

In January 2020, IRFC had filed draft papers for its IPO.

On Friday, the company raised Rs 1,390 crore from anchor investors.

Established in 1986, IRFC is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets. The primary objective of IRFC is to meet the predominant portion of ‘extra budgetary resources’ requirement of the Indian Railways through market borrowings at the most competitive rates and terms.

The Non-Banking Financial Company (NBFC) would utilise the proceeds of the IPO for augmenting equity capital base to meet future capital requirements and general corporate purposes.

(With IANS inputs)


Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like

Tesla in India: Tesla faces bumpier ride breaking into...

NEW DELHI: Elon Musk all but confirmed Tesla Inc will enter India last week,...

In Wake Of Shootings, Retailers Respond To Consumer Interest...

LISBON/NEW YORK: A day after the shooting of Jacob Blake in Kenosha, Wisconsin, searches...

Netflix’s ‘Lupin’ Is A Fast-Paced, Fun-Filled Slice Of Escapism

Omar Sy, as the audacious Assane Diop. ...

ADB approves $1.5 bn loan to India to fight...

New Delhi: The Asian Development Bank (ADB) on Tuesday said it has approved a...